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  • Aug 23, 2024

Powell Says ‘Time Has Come’ for Fed to Cut Interest Rates

(Bloomberg) -- Chair Jerome Powell said the time has come for the Federal Reserve to cut its key policy rate, affirming expectations that officials will begin lowering borrowing costs next month and making clear his intention to prevent further cooling in the labor market.Most Read from BloombergChicago's Migrant Surge Is Stirring Trouble for Democrats in DNC Host CitySydney Central Train Station Is Now an Architectural DestinationWith Housing Costs High, Democrats Hone YIMBY MessageWith Self-Dr

  • Aug 23, 2024

Fed’s Harker Says Interest-Rate Cuts Should Be ‘Methodical’

(Bloomberg) -- Philadelphia Fed President Patrick Harker said it is time for the US central bank to start cutting interest rates and emphasized the path down should be “methodical.”Most Read from BloombergChicago's Migrant Surge Is Stirring Trouble for Democrats in DNC Host CitySydney Central Train Station Is Now an Architectural DestinationWith Housing Costs High, Democrats Hone YIMBY MessageWith Self-Driving Vans, Hamburg Tries to Make Microtransit WorkUK Transport Minister Clears Path for Mor

  • Aug 23, 2024

Key quotes from Powell's speech at Fed's Jackson Hole conference

Here are key quotes from Federal Reserve Chair Jerome Powell's speech on Friday to the Kansas City Fed's annual economic conference in Jackson Hole, Wyoming: POLICY: "The time has come for policy to adjust. The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks." INFLATION: "My confidence has grown that inflation is on a sustainable path back to 2 percent."

  • Aug 23, 2024

Fed’s Bostic Says He Now Might Favor More Than One 2024 Cut

(Bloomberg) -- Federal Reserve Bank of Atlanta President Raphael Bostic said it’s possible that more than one interest-rate cut may now be needed by year-end, shifting his view in the wake of data showing falling inflation and a slowing labor market.Most Read from BloombergChicago's Migrant Surge Is Stirring Trouble for Democrats in DNC Host CitySydney Central Train Station Is Now an Architectural DestinationWith Housing Costs High, Democrats Hone YIMBY MessageWith Self-Driving Vans, Hamburg Tri

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